Gol Linhas Aereas Inteligentes (NYSE:GOL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “Shares of GOL Linhas have outperformed its industry in the last six months. The company is benefitting from the improvement in the Latin American economy. The carrier's efforts to reduce debt levels are also encouraging. GOL Linhas has been undergoing a thorough restructuring process to revive itself. We expect the company’s focus on capacity discipline to result in improvement in yields, going forward. Efforts to modernize its fleet also raise optimism in the stock. However, increasing expenses on aircraft fuel continue to limit bottom-line growth. Soft international traffic is another challenge for the company to overcome. Moreover, the company is dependent on the products of certain big suppliers and operates in a competitive Latin American airline space, which has the likes of Copa Holdings and LATAM Airlines Group.”

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Other analysts also recently issued reports about the company. Bank of America downgraded Gol Linhas Aereas Inteligentes from a “buy” rating to a “neutral” rating in a research note on Thursday, January 11th. ValuEngine raised Gol Linhas Aereas Inteligentes from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. Finally, Buckingham Research initiated coverage on Gol Linhas Aereas Inteligentes in a research note on Monday, November 6th. They issued a “buy” rating and a $29.00 target price for the company. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Gol Linhas Aereas Inteligentes has a consensus rating of “Hold” and a consensus price target of $24.33.

Shares of Gol Linhas Aereas Inteligentes (GOL) traded up $0.35 during trading hours on Tuesday, hitting $10.74. The stock had a trading volume of 331,604 shares, compared to its average volume of 334,985. Gol Linhas Aereas Inteligentes has a 52-week low of $3.84 and a 52-week high of $11.81. The stock has a market cap of $1,873.80, a price-to-earnings ratio of 61.45 and a beta of 2.09. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of -1.73.

Gol Linhas Aereas Inteligentes (NYSE:GOL) last announced its quarterly earnings data on Wednesday, November 8th. The transportation company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.41. The firm had revenue of $858.80 million during the quarter, compared to analysts’ expectations of $783.32 million. analysts forecast that Gol Linhas Aereas Inteligentes will post 0.39 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. Smith Asset Management Group LP acquired a new position in Gol Linhas Aereas Inteligentes in the 3rd quarter valued at about $103,000. Dimensional Fund Advisors LP boosted its stake in shares of Gol Linhas Aereas Inteligentes by 4.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 205,108 shares of the transportation company’s stock valued at $4,331,000 after buying an additional 9,060 shares during the period. Virtu KCG Holdings LLC boosted its stake in shares of Gol Linhas Aereas Inteligentes by 89.3% in the 2nd quarter. Virtu KCG Holdings LLC now owns 22,285 shares of the transportation company’s stock valued at $253,000 after buying an additional 10,515 shares during the period. Vanguard Group Inc. boosted its stake in shares of Gol Linhas Aereas Inteligentes by 100.0% in the 2nd quarter. Vanguard Group Inc. now owns 25,640 shares of the transportation company’s stock valued at $291,000 after buying an additional 12,820 shares during the period. Finally, Van ECK Associates Corp boosted its stake in shares of Gol Linhas Aereas Inteligentes by 24.6% in the 3rd quarter. Van ECK Associates Corp now owns 72,245 shares of the transportation company’s stock valued at $1,527,000 after buying an additional 14,271 shares during the period. 0.33% of the stock is owned by hedge funds and other institutional investors.

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About Gol Linhas Aereas Inteligentes

Gol Linhas Aereas Inteligentes SA is a Brazil-based airline company. The Company focuses on carrying passengers to over 60 destinations, approximately 50 in Brazil and 10 in South America and the Caribbean. The Company’s fleet includes approximately 120 Boeing 737 aircrafts. The Company operates through two segments: Air transportation and Loyalty program.